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Ex-BAML FX head takes chief risk officer role at Citadel

A former Bank of America managing director, who spent his career as a trader, has now joined hedge fund Citadel as chief risk officer for its European operations.

Guillaume Huteau, who was most recently head of FX options trading (CEEMEA) at Bank of America Merrill Lynch, joined Citadel as chief risk officer for Europe earlier this month, according to filings on the Financial Conduct Authority register.

His departure from BAML, where he worked since March 2012, was reported in August. He reported to Bernie Mensah, global head of emerging markets sales and trading for equities and fixed income, currencies and commodities.

Risk management has, of course, been a hot sector to work for some time now, while banks’ fixed income desks – and FX in particular – have been decimated through a combination of redundancies after underperformance, rate fixing scandals and the trend towards electronification.

Any good trader understands risk management, but there has been an increasing trend more recently for them to switch into the middle office where job security is greater. Making the switch into a top job in a hedge fund also happens to be very lucrative – total packages for chief risk officers in hedge funds comes in at $500-1m, according to figures from headhunters Glocap.

Prior to joining BAML, Huteau spent 17 years working for Credit Suisse, starting out as a quantitative research analyst before switching into fixed income trading. Latterly, he was managing director at head of EEMEA and Latin America emerging markets FX options trading.

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